The Confederation Bank for Investment and Development of the Confederation of Sahel States (BCID-AES) held the second ordinary session of its Board of Directors in Bamako on Monday. The meeting focused on reviewing a number of measures aimed at facilitating the effective launch of the regional financial institution. The proceedings were chaired by Mali’s Minister of Economy and Finance, Alousséni Sanou.
On this occasion, the minister recalled that since its establishment, the BCID-AES has been working to put in place its governance bodies, operational mechanisms, and institutional framework. He welcomed the progress already achieved, describing it as an essential step in building a bank that is expected to play a major role in financing development across the confederation.
Board members reviewed, in particular, a priority action plan designed to accelerate the bank’s operationalization. Discussions also focused on harmonizing governance tools, establishing a remuneration policy, defining the rules governing the functioning of the institution’s leadership bodies and staff, and determining the modalities for mobilizing the bank’s capital.
This session took place against a backdrop of significant economic, financial, and security challenges. In response to these issues, the member states aim to strengthen their integration and consolidate their economic sovereignty. BCID-AES officials reaffirmed their determination to make the bank a leading financial institution based on the principles of good governance, transparency, and efficiency, with the objective of supporting strategic investments and promoting the sustainable transformation of the economies of the Confederation of Sahel States.
The Confederation of Sahel States (AES) is a political, military, and economic union established on July 6, 2024, bringing together Burkina Faso, Mali, and Niger. Created following the three countries’ withdrawal from ECOWAS, the confederation is built around three pillars: mutual defense, coordinated diplomacy, and economic development.
The organization is led by a council of heads of state composed of Captain Ibrahim Traoré of Burkina Faso, General Assimi Goïta of Mali, and General Abdourahamane Tiani of Niger.